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Prosperous soul, mortgage neutrality & creativity Year 2
Comments
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That's fantastic on the savings SH - well done you! And well done to DD for finding and buying her car as well - she must be so excited and I bet she can't wait to get through her test now too!
🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
Balance as at 31/08/25 = £ 95,450.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her3 -
Sounds like a good weekend and productive start to the week, good to hear there's an end in sight for the mum taxis!Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
Current mortgage amount: £226,957.97
Start student loan 2012: £29,750; current student loan: CLEARED July 20253 -
Thanks Tahlullah, EH and Merlin
DD has come a long way on the car purchase. At one point she was considering spending up to £10K and didn't understand re interest etc at all. Now she's cut her cloth in line with savings and is putting £400 to it and I'm putting £1.6K and then she's insuring it. I can't wait for her to pass - as you say hopefully this is extra incentive - and the extra help she needs in terms of more time outside of formal lessons to practice her skills in her own car. I didn't get my own car until I was well into my twenties...
The weather is better this week. I had salad and jacket spud and mackerel at lunch. I've had strawberries and nutella and some chopped nuts for mid afternoon snack and now I'm having veg soup. After that I hope to finish mowing the lawn.
I was too tired to make it physically into work for a decent time so WFH but had lots of calls and meetings today so the time flew regardless which was positive.
On count down to my long weekend!!Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise)
(If bigger lump sum £15.8/30K 52.67%)
5) SIPP £4.8K updated 13/9/257 -
I was 30 when I got my first car!
30 years ago!I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.5 -
£10k on a car after just passing, when she does, isn't that good due to the odds of scrapes. Thank goodness DD has changed her mind.
Sounds like a more productive week, even with being tired, and you'll be off travelling before you know it.Mortgage started 2020, aiming to clear 31/12/2029.5 -
Definitely not a good plan to pay £10k for a first car - although we all hoped we didn't scrape them, we inevitably did!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
Balance as at 31/08/25 = £ 95,450.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her5 -
Thanks MF, Beanie and EH
Her car isn't ready yet. Looks like it will be next week.
Just finished mowing lawn. Handyman rearranged to this afternoon. Will be interesting to see when finally arrives.
Nearly finished work for long weekend. Counselling tonight.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise)
(If bigger lump sum £15.8/30K 52.67%)
5) SIPP £4.8K updated 13/9/254 -
Have a lovely long weekend.
well done on the savings. I love seeing monthly interest arrive in my account even though I know other accounts will pay interest annually it's the monthly payments that motivate me. I have my savings pots in chase and I'm accruing the interest from my holiday pot, my entertainment pot and my Christmas pot to donate to Salvation Army at Christmas. They are my pots that represent good things that I'm lucky to be able to afford so it feels like a nice way to recognise that others aren't as fortunate.
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I paid 8k euro for my first car. I assessed what to buy based on euro ncap safety ratings though.3
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I bought my first car at an auction - it proved to be a false economy🤦♀️Mortgage OP 2025 £6750/7000Mortgage OP 2024 £7700/7000
Mortgage balance: £35,463
Declutter 16/244
Money making challenge £58/400
”Do what others won’t early in life so you can do what others can’t later in life” (stolen from Gally Girl)4
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